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Davis Advisors Privacy Statement

Davis Selected Advisers, LP is Committed to Protecting Your Privacy.

We respect every individual’s right to privacy. We understand the
importance you place on the privacy and security of information that
personally identifies you or your account information.

Why and How We Collect Personal Information.

We collect personal information about you for the purpose of providing
investment advisory services to you, evaluating your financial needs,
processing your requests and transactions and providing customer
service. The personal information we collect about you may include:

Information we receive from you to open an account or provide
investment advice to you, such as your home address, telephone number
and financial information;

Information that we generate to service your account, such as account statements; and

Information that we may receive from third parties with respect to
your account, such as trade confirmations with brokerage firms.

Identifiable information, stored in the form of cookies in your computer, relating to your access and use of any of our websites.

We Protect the Confidentiality of Your Personal Information in the Following Manner:

We do not sell personal information to anyone.

We disclose personal information only as required by law or with your permission.

We disclose or report personal information in limited circumstances
where we believe in good faith that disclosure is required under law, to
cooperate with regulators or law enforcement authorities, or to protect
our rights or property.

We use personal information in ways that are compatible with the
purposes for which we originally requested it. For example, we will use
the information you give us to process your requests and transactions or
to evaluate your financial needs. To do so, we may share personal
information with an agent or affiliate.

We limit the collection and use of personal information to what is
necessary to administer our business and to deliver services to you.
This may include advising you about our products or services.

When We Share Your Personal Information With Our Affiliates.

In order for us to provide investment advisory services to you, we may
disclose your personal information in very limited instances which
include:

Disclosures to companies as permitted by law, including those
necessary to service your account, such as providing account information
to brokers and custodians;

Disclosures to companies that perform services on our behalf, such as mailing your account statement to you.

How We Protect Your Personal Information That We Share With Our Affiliates.

When we share personal information with an agent or affiliate, we
protect that personal information with a strict confidentiality
agreement. Companies that we hire to provide support services or act as
our agent must conform to our privacy standards.

Our internal policies prohibit employees who have access to our
customer’s personal information from using or disclosing the information
except for business use. All employees are required to sign a
confidentiality agreement that requires them to protect your personal
information.

On occasion we may request that a company that is not affiliated with
Davis Selected Advisers, L.P. distribute your account statement, a
newsletter or other marketing material. In all cases your personal
information is protected by a strict confidentiality agreement. We do
not allow any non-affiliated companies to retain your personal
information longer than necessary to provide the product, service or
information.

Updating Your Personal Information

We will give you reasonable access to the information we have about
you. Most of this information is contained in account statements that
you receive and applications that you submit to obtain our products and
services. The accuracy of your personal information is important. We
encourage you to review this information and notify us if you believe
any information should be updated or corrected.